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Utah Senate committee tables Johnson’s bill to register large single‑family rental portfolios after administrative pushback
Summary
Sen. Johnson’s SB 309 — a three‑part bill to register single‑family rental owners, impose a tiered excise on large portfolios and fund municipal conversion grants — drew sharp administrative and industry concerns over privacy, enforceability and fiscal effects; the committee moved the bill to the next agenda item for further work.
Sen. Johnson introduced Senate Bill 309 as a targeted response to declining first‑time homeownership, arguing that concentrated institutional purchases of entry‑level detached homes are reducing resale velocity and pricing out first‑time buyers.
Johnson described three linked elements in the bill: a statewide registration for owners of single‑family rental homes (deadline in text: 10/01/2026); a tiered annual excise tax on large portfolios (owners of 25 or more single‑family homes would pay $2,000 per home at the 25–29 bracket, scaling to $6,000 per home above 50 in the bill text); and a revenue‑recycling grant program (Housing Transition and Redevelopment Fund) administered by the Governor’s Office of Economic Opportunity with a 10% cap on overhead to help…
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